| Angel Investor Group Profile |
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Since its inception in 1988, LORE Associates continues to uphold its mission of providing seed investment and professional mentoring to start-up companies in the Greater Philadelphia region. LORE Associates provides a room for angel investors to find business opportunities and enterprises that they wish to be part of. Although risky, the group believes that start-up companies are the most viable and profitable ventures in business today. LORE values its pool of private investors as much as its portfolio companies: both the entrepreneur and the investor benefit from each investment. Half-jokingly, the members consider themselves as "Loosely Organized Retired Executives."
But far from this inside joke, LORE's team of skilled professionals and senior executives, who came from different areas in business, has manifold backgrounds in the industry. The group's expertise in every aspect of business aids start-up entrepreneurs applying for investment through counseling and strategic advice in making corporate decisions. In addition, members expect an above average return of their investments due to the risks involved in funding new businesses. The group primarily looks for promising enterprises with huge market opportunities and wide gross margins as LORE Associates believes that investment should only be made in businesses with high profit potential.
Investments made by the group are done individually as LORE members are given the opportunity to invest at their own risk in a company that they recognize as potentially viable. As of the moment, LORE Associates has 51 members who are actively involved in start-up financing. Typical seed investment ranges from $25,000 to $100,000 for each member. As the group is profit-motivated, start-ups with product or service gain huge advantage for investment as opposed to those companies that do not have a market for production, purchase, and consumption.
Members of the group meet ten times a year, almost every month excluding July and August, to scrutinize two business proposals from aspiring entrepreneurs. After the presentation, the investors privately discuss if seed investment is deserved by both entrepreneurs. The group also provides feedback on each one's potential as a business and whether or not a due diligence is necessary. Once a business passed the screening, due diligence process is performed through business reviews, market study, a detailed product analysis, strategical procedures, and personal interviews. Usually, LORE Associates closes a deal with two or three companies every year. During these meetings, members review current investment status, upcoming events, situation of portfolio companies, administrative matters, and in special occasions, a speaker is invited to commence a talk regarding related issues in business.
LORE receives 20-30 executive summaries and business plans every month wherein the Program Chairman has to select at least two start-ups that will present for the month's breakfast meeting. Entrepreneurs who plan to seek for seed investment are requested to download an application document on the group's website and submit it along with an executive summary of the business.
LORE Associates' Website
For almost 20 years, LORE Associates remains one of the most successful angel investment groups in Philadelphia. The group's website is a testament to that. The site is concise in terms of articles related to investment and membership. Although it is primarily exclusive to the group's members, a brief introduction to the group's cause is provided. The information available practically sums up every important detail with regard to the group's history, goals, funding criteria, membership responsibilities, and selection process. The application form for start-up companies in need of investment is accessible through download as well as specific guidelines and procedures. For feedback, suggestions, and general inquiries, contact information is also listed on the site.
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